Friday, February 2, 2018

Facebook is banning all ads promoting cryptocurrencies

Facebook is banning all ads that promote cryptocurrencies, including bitcoin, in an effort to prevent people from advertising what the company is calling “financial products and services frequently associated with misleading or deceptive promotional practices.”

Facebook’s ban applies to all ads that “promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, and cryptocurrency,” according to a company blog post. It will span ads running on Facebook, as well as Facebook-owned Instagram and its Audience Network ad network of third-party sites and apps.

“This policy is part of an ongoing effort to improve the integrity and security of our ads, and to make it harder for scammers to profit from a presence on Facebook,” according to the company.